Topic 3: Journals, Ledgers, T-Accounts, and Normal Balances

Videos

1	Not completed	T-Accounts T-Acounts are the 30,000 ft. view of your accounts. They help you quickly glance at an account and see what is going on inside of it.	4 min
2	Not completed	Debits and Credits Debits and Credits are the words of accounting. You must understand debits and credits if you want to be able to pass this class.	7 min
3	Not completed	Determining Normal Balances For Assets & Liabilities A "normal" balance just means what side of the account the increases go on. Here we're going to determine normal for Assets and Liabilities.	11 min
4	Not completed	Determining Normal Balance for Shareholder's Equity Shareholder's Equity has a normal balance, just like every other account. It's pretty simple to determine, not unlike Assets and Liabilities.	12 min
5	Not completed	Normal Balance Shortcut: Double Entry I told you that understanding normal balances is super important, so we're not done yet. This shortcut has to do with Double Entry Accounting. Excited? You probably should be.	12 min
6	Not completed	Normal Balance Shortcut: DEAD Mnemonic You'll be DEAD if you forget this. Forgive my cheesiness.	3 min
7	Not completed	The Journal, Ledger, Trial Balance The Journal, Ledger, and Trial Balance are how we keep track of what is going on day-to-day in our business.	14 min

		Click Here to View All Problems at Once	View
1	Not completed	Account Classification	Easy
2	Not completed	Journal Entry - Inventory	Easy
3	Not completed	Journal Entry - Sales	Easy
4	Not completed	Land Purchased With Cash	Easy
5	Not completed	T/F: Liabilities and Equity	Easy
6	Not completed	T/F: T-Account Logic	Easy
7	Not completed	Normal Balances	Moderate
8	Not completed	The Effect of Journal Entries	Moderate
9	Not completed	What Should Be Journaled	Moderate